Editor's Note: The first and second bullet points that accompany this article have been edited for clarification and accuracy.

When the lease for a Cablevision call center in Newark expires in two years, the Economic Development Authority doesn’t want the facility’s employees to travel far to their new office.

After the authority unanimously approved Cablevision’s application for a $37.5 million Urban Transit Hub tax credit yesterday, the telecomm giant said it does have plans to develop a new space just a few blocks down the street.

"Cablevision has a long-standing and important relationship with the state of New Jersey and the city of Newark, and a commitment to local hiring, local jobs and supporting the local economy," said spokesman Jim Maiella. "We are pleased to be investing in a new state-of-the-art call center, larger than our existing facility, closer to mass transit and modernized for our more than 500 Newark employees."

The space being considered at 494 Broad St., just a few blocks away from its current location, would include 12,500 square feet of ground-floor retail space and 700 parking spots.

It’s not the cheapest of Cablevision’s options by far — the authority estimates that the company would spend between $28 million and $33 million to move its center into Long Island, where Cablevision is based, and Connecticut offices it already rents. Moving into the Newark office would cost $73 million.

But the city would retain 574 jobs with an average salary of $37,000 if Cablevision stays, said Caren Franzini, CEO of the development authority.

"I think it’s also important to note that 50 of the current jobs in Newark will be upgraded in terms of the skill set requires," she said. "They would use existing staff, train them for this skill set and that will result in higher salaried jobs."

The authority also approved:

A $19 million grant in the form of tax reimbursements for Catellus Teterboro Urban Renewal LLC. The national mixed-use developer will begin the construction phase of its $101 million revelopment project on 55 vacant acres between Teterboro Airport and the borough’s NJ Transit station next July. The brownfield, purchased by ProLogis from Honeywell International in 2007, will be host to 425,000 square feet of leasable retail and restaurant space, 162,000 square feet of light industrial and 2,500 parking spaces.

An annual $2.7 million Grow New Jersey Assistance Program tax credit over ten years for Conair Corporation if the company, which makes hair dryers, curling irons and small kitchen appliances, creates 446 new jobs in the state by building a 450,000 square foot facility here. The company is considering building its new facility in Glendale, Ariz. as an alternative.

$1.87 million in grants to persuade EisnerAmper to keep its New Jersey employees in the state. The leases at each of the firm’s locations here — Edison, Bridgewater, Hackensack and Wall — will expire over the next two years. The company has said it is considering consolidating those offices into an Iselin office or relocating 255 employees to Pennsylvania or its New York headquarters.